Solana extended recent gains, as it continued to cement its place as the world’s sixth-largest cryptocurrency. ZIL also rose on Thursday, following yesterday’s 50% increase in its value. This all happened as the WAVES increased by 15% throughout the session.
Zilliqa, ZIL
Although solana (SOL) was higher for a third straight session, hitting a multi-month high in the process, it was zilliqa (ZIL) which was once again the day’s biggest gainer.
Today’s surge saw ZIL/USD climb to an intraday high of $0.218 during Thursday’s session, which is its highest point since last May.
ZIL gained strength after breaking the resistance at $0.1090.
These gains continue to cause price strength to remain overbought, as the 14-day RSI is now at 91.51.
This point is the highest this indicator has ever reached, and it shows there can be only one long-term direction from here.
As seen from today’s candlestick, the wick fell from its earlier highs and now trades at $0.1844, which is likely a result of profit-taking.
WAVES
WAVES (the price of waves) increased for its fourth session in a row on Thursday. It reached an all-time record high.
Following yesterday’s high of $60.03, WAVES/USD climbed to an intraday high of $62.36 during today’s trading session.
This came after earlier lows at $49.68. WAVES prices were almost 13% higher as of writing.
Out of the all-time record, the 14 day RSI also reached a high point at 92.28. That is definitely above the overbought zones.
This, along with ZIL, will probably spur bear interest. They believe that a momentum reversal is imminent.
Also, the crossover of moving average seems matured. A change in direction may occur once resistance is discovered in price.
Is there a level of resistance in the WAVES already? We’d love to hear your comments.
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